Rivian Secures $1.5B in Tax Incentives for New Georgia Plant

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Rivian Secures $1.5B in Tax Incentives for New Georgia Plant
Rivian

Electric automaker Rivian announced today that it has secured $1.5 billion in tax incentives from the state of Georgia to begin construction on its new plant outside of Atlanta.

The factory, which is projected to cost $5 billion to build, is expected to bring 7,500 jobs to its area, each paying an average of $56,000, according to Rivian. Eventually, the plant should be capable of producing up to 400,000 vehicles annually.


Considering that Irvine-based Rivian’s supply chain struggles have forced the company to scale down production to just 25,000 vehicles this year, the factory represents a massive expansion for the company and a vital piece of its future. Georgia Gov. Brian Kemp has touted the project as the “single-largest economic development project in state history.”

However, the plant’s development has proven politically divisive in the state. While Kemp has championed the project as an economic boon for the region, his opponent in the Republican primary slated for later this month, David Perdue, has painted the factory as a handout to a Californian business and a windfall for Democratic Party donor George Soros, who invested roughly $2 billion in Rivian late last year.

Fortunately for Rivian, none of these concerns are likely to stop the facility's development, with today’s announcement moving the company one step closer to breaking ground. It’s a much-needed win for the EV manufacturer, which has struggled this year after vehicle pricing changes drew the wrath (and legal action) of investors and consumers in equal measure. The Amazon-backed company, once touted as a potential market challenger to Elon Musk’s Tesla, has seen its stock decline 69% this year and is currently trading at $32 per share—a far cry from the giddy high of $172 seen shortly after its record-breaking IPO last November.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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EV Startup INDIEV Links With Foxconn To Produce SUVs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

EV Startup INDIEV Links With Foxconn To Produce SUVs
Photo Courtesy of IndiEV

INDIEV, a startup based in Vernon, announced this week it will partner with Taiwanese tech conglomerate Foxconn to build its first prototypes of its upcoming electric SUV, nicknamed the INDI One.

The debut makes it the seventh consumer electric vehicle company to enter Los Angeles’s crowded cohort of green carmakers.

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